TOWN'S GRAND LIST GROWS

Buoyed by the opening of Wal-Mart and an increase in personal property taxes, the town's 2001 grand list of taxable property grew by about $3.3 million, officials announced Wednesday.

The value of all taxable property was $1.73 billion, a 1.95 percent increase from the previous year. That's significantly more than the 0.26 percent increase in 2000, though below the 3.85 percent increase in 1999, a banner year for the town.

Still, officials said they were pleased that the grand list continues to grow.

Town Manager Paul Fetherston said he also was pleased with the increase, though he noted that it should not change the town's conservative approach to spending.

"[The increase] doesn't mean we have the authority or the ability to spend more," Fetherston said.

The highest increase came in personal property assessments, which jumped about 3.75 percent from 2000 to 2001. Homicki credited the upsurge to personal property enhancements at Northeast Utilities.

The total value of all local real estate, meanwhile, grew from about $1.4 billion to $1.44 billion, a 1.81 percent change from 2000 to 2001. The opening of Wal-Mart, valued at $12.5 million, this past fall helped to boost the real estate tax roll, officials said.

Real estate growth also was driven by the reassessment of commercial properties. The assessor conducted a thorough review of over 400 such businesses, reassessing the value of those that acquired tenants over the past year.